Global organizations can boost their ability to detect high-risk transactions more than tenfold through better collaboration, research shows [Yahoo! Finance]
RELX PLC PLC American Depositary Shares (Each representing One Ordinary Share) (RELX)
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Source: Yahoo! Finance
ATLANTA Nov. 20, 2024 /PRNewswire/ -- Banks and online retailers can significantly improve their ability to capture hard-to-detect high-risk fraudulent transactions through combining shared fraud intelligence into their risk assessments, according to the latest Global State of Fraud Report from LexisNexis® Risk Solutions. It reveals how businesses can build strong digital trust and prevent fraud before it occurs through collaborative digital identity intelligence and details several examples of success, including one organization that lifted customer recognition rates to 94%. Another integrated digital identity and email intelligence to help lift fraud capture rates by a quarter (26%). The global report also explores the impact of criminal activity on consumer trust, compounded by the fact that fewer than 10% of mules identified by law enforcement are arrested and fewer than 1% are charged. Rapid adoption of AI-powered technology by fraudsters to automate phishing and deepfakes i
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